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Judgment Search Results Home > Cases Phrase: income tax act Court: chennai Year: 1975 Page 1 of about 81 results (0.049 seconds)

Dec 12 1975 (HC)

Commissioner of Income-tax Vs. Khateeb Mahmood

Court : Chennai

Decided on : Dec-12-1975

Reported in : [1977]109ITR408(Mad)

..... revenue, the following questions have been referred :1. whether, on the facts and in the circumstances of the case, and having regard to the provisions of section 69a of the income-tax act, 1961, the appellate tribunal had material to hold and was justified in law in holding that there was no justification for treating the sum of rs. 1,70,000 as ..... source was not acceptable and was not supported by any documentary or oral evidence, the income-tax officer came to the conclusion that the said sum represented income of the assessee from undisclosed sources. in coming to this view, the income-tax officer specifically relied on section 69a of the act. the income-tax officer also proposed to levy penalty under section 271(1)(c) and since the ..... the house. on information relating to the discovery of this amount and the admission by the assessee that the money belonged to him, the income-tax officer started assessment proceedings invoking his power under section 175 of the act. he issued a notice under section 139(2) on january 11, 1965. in response to this notice, the assessee filed a return on january ..... not paid, as demanded, within the time allowed, a show-cause notice was issued by the income-tax officer under section 221 of the act and ultimately imposed a penalty of rs. 6,400 equivalent to 5 per cent. of the tax. the assessee preferred appeals to the appellate assistant commissioner against the assessment order and the penalty levied under section 221. the appellate .....

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Sep 02 1975 (HC)

Commissioner of Income-tax Vs. Anamalai Bus Transports (P.) Ltd.

Court : Chennai

Decided on : Sep-02-1975

Reported in : [1976]105ITR267(Mad)

..... of this court: 'whether, on the facts and in the circumstances of the case, the appellate tribunal was right in holding that the provisions of section 23a of the indian income-tax act, 1922, were not attracted for the assessment yerr 1960-61 ?'6. for the department the learned counsel submitted that the appellate asistant commissioner and the tribunal were wrong in proceeding ..... rs. 3,54,185. the company had declared a dividend of rs. 1,63,520. 2. the income-tax officer considered this declaration of dividend in the light of section 23a of the income-tax act of 1922, which was in force during the relevant year. he examined the question as to whether the assessee-company had declared the statutory percentage of the distributable ..... gangadhar banerjee and co. (p.) ltd. : [1965]57itr176(sc) the section is in three parts. the first part defines the scope of the jurisdiction of the income-tax officer to act under it, the second part provides for the exercise of the jurisdiction in the manner prescribed thereunder and the third part provides for the assessment in the manner contemplated by ..... profits and he found that there was a shortfall in the declaration by making calculation as follows: rstotal income assessed 6,43,390less : income-tax and corporation tax due thereon2,89,205balance .....

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Aug 11 1975 (HC)

Ramanlal Kamdar Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Aug-11-1975

Reported in : [1976]103ITR489(Mad)

..... years and sought to disallow the commission on the ground that it was fictitious. he proceeded for this purpose under section 147(b) of the income-tax act, 1961.10. the assessee appealed against the reassessments for 1957-58 to 1959-60 and against the assessment for 1960-61. regarding the disallowance of ..... sethuhaman, j.1. the following question has been referred by the tribunal under section 256(1) of the income-tax act, 1961. 'whether, on the facts and in the circumstances of the case, the appellate tribunal was justified in holding that the commission ..... no special service had been rendered, the supreme court upheld the disallowance.21. a similar question came up for consideration in lachminarayan madan lal v. commissioner of income-tax, : [1972]86itr439(sc) . that was a case where a firm which was manufacturing and selling aluminium utensils, had effected sales direct to the customers ..... on the facts the supreme court, affirming the view of the high court, allowed the remuneration at 30% as claimed by the assessee.17. in commissioner of income-tax v. walchand & co. private ltd. : [1967]65itr381(sc) the supreme court had to consider the disallowance of the increase in theremuneration paid to certain ..... 10(2)(xv) of the 1922 act or section 37 of the 1961 act for the assessee to say that, when once the agency firm was found to be genuine and hadrendered services, the question of reasonableness of the commission was beyond the purview of the income-tax authorities or the tribunal.14. the .....

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Dec 02 1975 (HC)

Commissioner of Income-tax Vs. S.K.S. Rajamani Nadar

Court : Chennai

Decided on : Dec-02-1975

Reported in : [1977]109ITR258(Mad)

..... the firm can be set off against the profits and gains made by him in his individual trade or otherwise'. it may be mentioned that section 24 of the indian income-tax act, 1922, as it stood at that time, did not contain any prohibition against set-off of losses in an unregistered firm. it was only subsequently a provision similar to section ..... treated as an association of persons. on the ground that the prohibition contained in section 77 is applicable only in respect of the income or loss of an unregistered firm and that there is no express prohibition in the income-tax act against the set-off of loss in the business carried on by an association of persons, the appellate assistant commissioner allowed the ..... -67 ?'2. the learned counsel for the revenue contended that an association of persons is a unit of assessment under the income-tax act and that any loss incurred by it could be carried forward and set off by that unit against income in future assessment years and the proportionate part of the loss of an individual member of the association could not be ..... 77 was introduced in section 24 of the indian income-tax act, 1922. this principle was approved and followed by the supreme court in anglo-french textile co. ltd. v. commissioner of income-tax : [1953]23itr82(sc) , which was also a case arising under the old act. these decisions were followed by the andhra pradesh high court in smt. abida khatoon .....

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Dec 02 1975 (HC)

Commissioner of Income-tax Vs. A.L. Srinivasan

Court : Chennai

Decided on : Dec-02-1975

Reported in : [1977]108ITR667(Mad)

..... . 1,71,135 has been set off against his share of profit or other income earned by him. the income-tax officer justified the disallowance of the assessee's claim on a reference to section 24(2)(ii) of the indian income-tax act, 1922, which applied to the relevant years. the appellate assistant commissioner, on appeal, took the view that the ..... ,298while the assessee claimed that the balance of loss of rs. 1,71,135 which was carried forward by the income-tax officer should be adjusted against the wife's income brought to tax in his hands under section 16(3) of the act, the income-tax officer rejected this claim. from the assessment for 1959-60 and 1960-61, it appears that this sum of rs ..... ) of the act, became part and parcel of his own total income for all purposes including for the purpose ..... wife's share income from the firm, assessed in the hands of the husband under section 16(3)(a)(i .....

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Sep 10 1975 (HC)

Dollar Company Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Sep-10-1975

Reported in : [1977]107ITR280(Mad)

..... was re-enacted, but there was no reference to the compulsory acquisition not being treated as sale, exchange or transfer of capital assets. when the income-tax act of 1961 was enacted the provisions of section 12b were substantially adopted, but with some modifications. in order to avoid the repetition of the words ' ..... appealed to the appellate assistant commissioner contending that the compulsory acquisition did not come within the scope of the provision of section 12b of the indian income-tax act, 1922. in other words, the assessee went back even on its own return. alternatively, it was contended that the further compensation granted by ..... td this court:'1. whether the compulsory acquisition of the lands constitute atransfer as contemplated under section 12b of the indian income-tax act,1922, so as to attract capital gains tax? 2. whether the compensation to which the assessee became entitled by orders of court subsequent to the previous year ended december ..... us) resting his case on the contrast between the third proviso to section 12b of the indian income-tax act, 1922, as it was in 1947, and the language of section 2(47) of the act of 1961, and on the aforesaid notes on clauses it was urged on behalf of the assessee ..... 1. at the instance of the assessee three questions have been referred to this court under section 66{1) of the indian income-tax act of 1922. the assessee is a registered firm carrying on business as chemists and druggists. the firm purchased on 17th october, 1958 .....

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Aug 13 1975 (HC)

Commissioner of Income-tax Vs. Madras Race Club

Court : Chennai

Decided on : Aug-13-1975

Reported in : [1976]105ITR433(Mad)

..... of the commodities among themselves, a part of the original amount provisionally collected is repaid, then what is repaid cannot by any test be classified as income. this would represent savings and not income. the income-tax act seeks to tax income and not savings. if this principle is borne in mind, then it would be easier to understand the decisions rendered on this point. it may ..... of the case, i would estimate the surplus at one-third of the gross receipts which is not taxable under the income-tax act. the balance of the expenses have already been allowed while computing the business income of the assessee. therefore, the total income is reduced by rs. 20,000.' 18. if really only one-third was taxable, then the amount to be added ..... estimated the surplus in the club activities at one-third of the gross-receipts, and took this as exempt under the income-tax act. he mentioned about the allowance of rest of the expensesin the computation of the business income. he reduced the total income by rs. 20,000 for each of these years.9. it may be mentioned, in passing that his discussion shows ..... the membership fees and held that the profits arising from the club activities were not taxable under the income-tax act. the existence of the combined accounts would not, in his view, entitle the income-tax officer to tax the non-taxable receipts also. on the view that expenses incurred in the management of the club had to be deducted and only the balance exempted, he .....

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Jul 08 1975 (HC)

Halima Fancy Stores Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Jul-08-1975

Reported in : [1976]104ITR190(Mad)

..... minor may be considered as a correct statement, a minor admitted to the benefits of partnership is considered as a partner both in the partnership act and in the definition given in section 2(23) of the income-tax act. therefore, the original return filed is the relevant return, along with which the declaration ought to have been filed. since that was not done ..... subsequent assessment year. these provisions show that there was no need for filing an application for continuation or renewal of the registration and the income-tax officer makes no order of continuation or renewal. if the proviso to section 184(7) is satisfied by law the registration originally granted was given effect to for the subsequent ..... of the partners, and it does not contain any request for renewal of the registration or continuation of the registration. clause (4) of section 185 also only requires the income-tax officer, where a declaration under section 184(7) is furnished, to record a certificate on the instrument of partnership to the effect that the registration is continued for the relevant ..... he, accordingly, assessed the firm as an unregistered partnership. on a further appeal, the appellate assistant commissioner took the view that the benefit of registration was rightly refused by the income-tax officer.2. the contention of the assessee before the, tribunal was that since the assessee had filed a declaration in form 12 along with the return submitted on march 2 .....

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Jul 22 1975 (HC)

Takhat Singh Vs. Union of India (Uoi) and ors.

Court : Chennai

Decided on : Jul-22-1975

Reported in : [1976]103ITR339(Mad)

..... the business even if true was speculative and in any event the plaintiff is not liable ? (4) is the suit barred under section 67 of the income-tax act and section 21 of the excess profits tax act ? (5) is the suit barred for want of notice under section 80, code of civil procedure ? (6) is the suit barred by limitation ..... appeal.2. the plaintiff-appellant and defendants nos. 4 to 7 are the sons of one tej singh, the said tej singh was an assessee under the income-tax act. for the assessment year 1944-45 by an order dated december 8, 1944, the hindu undivided family of which the said tej singh was the karta ..... of civil procedure, not being in confirmity with the requirements of that section and the suit itself being barred under section 67 of the income-tax act.10. under these circumstances, the appeal fails and is dismissed. having regard to the special circumstances of this case, there will be no order as to ..... final, the property belonging to the said hindu undivided family is liable to be proceeded against for the recovery of the tax. having regard to the provisions contained in section 25a of the income-tax act then in force, the fact that tej singh died in 1965 would not affect the position, because even if a partition ..... are sought to be recovered was made on the hindu undivided family and not on tej singh personally. for the purpose of the income-tax act, hindu undivided family is a separate unit of assessment and is an assessee in its own right independent of the members of the .....

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Apr 25 1975 (HC)

Hindu Bank Karur Ltd. Vs. Additional Commissioner of Income-tax

Court : Chennai

Decided on : Apr-25-1975

Reported in : [1976]103ITR553(Mad)

..... of the case justify, including an order enhancing or modifying the assessment, or cancelling the assessment and directing a fresh assessment.'12. the predecessor of this provision in the indian income-tax act of 1922 was section 33b. in the case of an assessment, the assessee alone has a right of appeal before the appellate assistant commissioner. where there is any error, which ..... disallowance of rs. 75,161 was not likely to make any impact financially. the commissioner of income-tax went through this order of the income-tax officer and he was of the view that the income-tax officer had not considered the profit chargeable under section 41(2) of the income-tax act in respect of the furniture and fixtures transferred to the syndicate bank. as the order of ..... the assessee's attempt to resist such proceedings in this manner had failed are set out at page 782 of kanga and palkhivala on income-tax, volume i, sixth edition, pages 782-783. under section 152(2) of the income-tax act of 1961, a special right has been given to the assessee in cases coming under section 147(b) to show that he had ..... of the revenue, because there was some other error which was in favour of the revenue.18. in cases where the income had escaped assessment and where proceedings were taken under section 34 of the indian income-tax act, 1922, corresponding to section 147 of the income-tax act of 1961, questions had arisen as to whether an assessee could resist such proceedings, by showing that other .....

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